From 19 till 28 September 2017, 70 MSc students from Rotterdam School of Management of the Erasmus University explored innovative business opportunities at the intersection of fintech and logistics during a pressure cooker course. 14 student teams worked on a case provided by 13 different companies in the fintech and logistics sector.

During this pressure cooker the teams explored the impact of new technologies, in particular FinTech, on established business models, in particular the logistics sector, and set out to discover new digital business and growth opportunities. In the short time frame of two weeks the students used their knowledge and creativity to generate market insights and new solutions.

Companies

Companies that provided their cases where among others:

• Fintech companies that wants to explore or enter the logistics market
• Logistics service companies that are interested in optimizing their processes with digital solutions or finance their business
• IT companies that are active in the logistics sector and curious how they can add payment, data or finance services to create value and reduce the need for working capital of their customers.

The pressure cooker

During the pressure cooker course the students went through a combination of mini-masterclasses, workshops and exercises next to the time they spent on developing their ideas for new business opportunities. The teams conducted field research and desk research to make an analysis about key stakeholders and trends at the level of industry and society. After this research they were able to generate and evaluate opportunities, these opportunities had a mid-term to long-term focus. Afterwards they selected an opportunity (area) to develop it in greater detail.

The first ideas from the students were presented during a marketplace. The companies gave feedback on the first input and answered questions from the students. What was also interesting is that – during the marketplace – the different companies were able to see what other companies in their sector are coping with and what solutions they offer. One of the companies even got some new clients during the marketplace. It was a nice, inspiring event with lots of energy.

Solutions

The students came up with different solutions on the cases from the companies. There were amongst others solutions developed for logistic issues by using the possibilities of Fintech. Some examples of solutions are as following: making it possible to combine deliveries in one neighborhood in the same timeframe through a platform, logging data from transported goods to advise companies on partners and routes to become more efficient and developing a customized invoice management system in order to facilitate better cash flows and working capital for logistics companies.

In general, many teams came up with different online platforms and apps to improve services. It also stood out that many solutions make an increasing use of data, in all different forms. With this data analyses can be made in order to improve existing and develop new services. Most of the solutions were focused on making (the financial parts of) the logistic process more efficient (lowering the chances on mistakes) and decreasing the invoicing time to improving the way insurances work.

Experiences

Most of the companies who delivered the cases were inspired with the new insights from the students. The experience learned that students are very flexible and easy to work with. They said that they liked their capacity to think broad and how they handled the challenges. One company even said that the students made a demo which he can use in his sales talks to show people where their product is going.

The companies were impressed by the amount of information the students were able to absorb, group and present back in the short time frame. It was nice to have unprejudiced minds looking at their challenges from a different perspective. They were also pleased to experience true interest in researching the feasibility of the adaptation of new technologies from the students. Several companies said that the students delivered great results with opportunity reports that can be used for their business.

To conclude, it was an inspiring period with new insights for as well companies as students mapping potential opportunities for cross-overs between Fintech and Logistics.

In the Logistics & Fintech program, Dinalog and HollandFintech and partners aim to share knowledge and seek collaboration throughout the logistics value chain. The fintech ecosystem is intensively involved, and the initiative is supported by the Ministry of Economic Affairs.